CryptoBLK and CargoX establish strategic partnership to advance global trade and supply chains

(Hong Kong, 12 October 2020) - CryptoBLK, an enterprise DLT/blockchain technology company, and CargoX join forces to streamline processes and accelerate digitalization in global trade and supply chains by integrating two blockchain platforms, Atlas Elite, an open account trade finance solution, and the CargoX Platform for Blockchain Document Transfer (BDT).

Atlas Elite was designed to solve the obstacles to global trade: disconnected systems, heavy paper-based processes, and risk of fraud, which lead to a US$1.5 trillion financing gap, according to the WTO reports. 

The partnership enables banks, corporate clients, logistics companies, and the extended trade ecosystem to digitally transfer documents and manage trade finance and related documents via multiple blockchains simultaneously. 

Dr. Duncan Wong, CEO of CryptoBLK: “The collaboration with CargoX will significantly help accelerate Atlas Elite’s integration with other innovative systems in the global trade industry. It facilitates Atlas Elite’s users to transfer document ownership between banks, corporate clients, and logistics companies on multiple blockchains.”